ETH Long after pullback - target around 320$ (second touch)

My trade idea after the great move above the major resistance zone is LONG, but we need to see a small pullback.
When to enter: ~255 - 260 will be ideal. It could be fast sell-off after which will be bought fast.
Target: ~315$ - second touch of the current high

Why not go long now? Because chasing the market is never a good idea. First watch how the late longs will get punished and at the same time shorters can scalp the current upper zones.

Concerns:
- Market could keep rising as trend is clear for near future.
- 300$ psychological area has been passed.
- Big players may taking some profit as ETH is on sell zone now.

評論:

Market is fluctuating around the upper line of the current high (320-325$) where the distribution of profits take place. There is the place to lock some profits but also a place for short scalpers to get something from this market.

In the near future the trend is clear - LONG. Many alts will provide a good jumps even better than BTC itself so alt season is also alive. You can see the excitement everywhere but late enters will get punished as always.

The general setup for this trade is still waiting for entry point.

GL with trading

取消訂單:

Cancelled as pullback didn't happen. New trading reality will be revised.
Enjoy bull run :)